Housing starts are expected to decrease to 1.050 million in tomorrow’s update for August, based on The Capital Spectator’s median econometric point forecast (seasonally adjusted annual rate). The projection represents a marginal decline from 1.093 million starts in July.
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Volatility is starting to creep back into the markets. It’s not obvious from the 30,000-foot view, but a few corners of the global markets are becoming jittery. Exhibit A: US real estate investment trusts (REITs), which tumbled sharply in recent sessions, presumably on the fear that this interest-rate sensitive asset class is vulnerable if the Fed is getting close to hiking interest rates.
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